The N.C. Budget and Tax Center will be releasing a full analysis of the Senate’s tax cut package next week, but, not surprisingly, the unfairness of the plan is already evident in preliminary findings.
According to their initial estimates, the average annual income tax cut for people in bottom quintile (i.e. the lowest 20% of incomes) will be $5. That’s right, five big ones baby! Let’s grab a six pack of Schlitz and party!
That right the GOP is giving the Rich of NC more tax breaks while sticking the poor with more, ok not more really but also most no tax break at all unless you do consider 5 dollars a year a damn tax break..
the NC Policy also noted that the final “incidence” figures will almost certainly be ever worse once the BTC gets to adding in the cuts to business taxes in the Senate package, which might mean more break for those wealthy NC’ers.
I see the GOP is nothing more then the goode ole rich white man club.. protecting the wealth why keeping the poor down and underfoot.
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